Renaissance Technologies LLC Sells 491,083 Shares of Ellington Credit (NYSE:EARN)

Renaissance Technologies LLC lowered its position in Ellington Credit (NYSE:EARN - Free Report) by 54.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,353 shares of the real estate investment trust's stock after selling 491,083 shares during the quarter. Renaissance Technologies LLC owned approximately 1.42% of Ellington Credit worth $2,743,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in shares of Ellington Credit by 56,104,600.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,122,094 shares of the real estate investment trust's stock valued at $7,428,000 after purchasing an additional 1,122,092 shares during the last quarter. Astra Wealth Partners LLC bought a new position in Ellington Credit during the fourth quarter valued at about $132,000. Geode Capital Management LLC boosted its stake in shares of Ellington Credit by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 304,629 shares of the real estate investment trust's stock worth $2,018,000 after acquiring an additional 34,779 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ellington Credit by 35.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 195,955 shares of the real estate investment trust's stock worth $1,297,000 after acquiring an additional 51,345 shares in the last quarter. Finally, Plancorp LLC acquired a new position in shares of Ellington Credit during the 4th quarter valued at about $100,000. 20.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ellington Credit

In other Ellington Credit news, Portfolio Manager Gregory Morris Borenstein acquired 8,000 shares of Ellington Credit stock in a transaction dated Wednesday, April 9th. The stock was bought at an average cost of $4.73 per share, with a total value of $37,840.00. Following the acquisition, the portfolio manager now owns 18,000 shares of the company's stock, valued at approximately $85,140. The trade was a 80.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company's stock.

Ellington Credit Stock Performance

Shares of EARN traded down $0.15 during mid-day trading on Wednesday, hitting $5.46. The company's stock had a trading volume of 469,356 shares, compared to its average volume of 523,486. The stock's 50-day moving average is $5.64 and its two-hundred day moving average is $6.29. The firm has a market capitalization of $205.07 million, a PE ratio of 4.88 and a beta of 1.74. Ellington Credit has a one year low of $4.33 and a one year high of $7.26.

Ellington Credit (NYSE:EARN - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The firm had revenue of $6.14 million during the quarter, compared to the consensus estimate of $9.65 million. Analysts expect that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 27th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.96 annualized dividend and a yield of 17.58%. Ellington Credit's dividend payout ratio is 320.00%.

Analyst Ratings Changes

EARN has been the subject of a number of recent analyst reports. UBS Group decreased their target price on Ellington Credit from $6.50 to $5.25 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Piper Sandler lowered their target price on shares of Ellington Credit from $8.00 to $6.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th.

Ellington Credit Profile

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.